Multinational Investment Bank
How does a complex organization track Scope 1-3 emissions across thousands of divisions in real-time?
Looking Within to Lead
Persefoni was chosen by a multinational bank with expertise in investment banking, investment management, and private wealth management to enhance its climate goals. As an independent and employee-owned firm, the company operates in approximately 20 to 40 offices worldwide. For nearly a century, the company. has provided advisory services, strategies, and solutions driven by its ability to thoughtfully evolve to meet clients’ ever-changing needs amidst dynamic market conditions. This remains true when it comes to sustainability management.
By developing a process and analysis framework that determines each of its portfolio company’s relevant ESG-related risk exposures and opportunities, the financial institution is positioned to make strategic investment decisions based on these insights. Wanting to take a step further and expand on sustainability, this financial services company chose to partner with Persefoni to gain better visibility into its own carbon footprint
Materiality Assessment and Baseline Understanding
The first step in expanding its sustainability initiatives was to understand its carbon footprint baseline. To do this, the company leveraged Persefoni’s Climate Management and Accounting Platform (CMAP) to quickly develop a data-driven baseline for its carbon footprint, which also allowed executives to measure and track progress on a continual basis. Once it finished developing a baseline, it explored additional ways they could partner with Persefoni to further corporate sustainability initiatives. Interested in surfacing more detailed insights, the company began investigating best practices and leveraged Persefoni to achieve more granular insights into different office locations, departments, and layers of their business. Today, this leading financial institution uses the Persefoni Platform to seamlessly track Scope 1-3 emissions across 95% of its geographic footprint. In partnering with the Persefoni team, the client’s internal team is developing subject matter expertise across different business units to create change management initiatives to streamline processes for years to come.
You Can’t Fix What You’re Not Measuring
Sustainability insights and data will become more and more relevant within financial institutions. The company’s goal is to make data driven decisions by having a centralized hub of all its carbon footprint data that is automated and integrates with their existing applications. By partnering with Persefoni, the company can identify its strengths and weaknesses, understand industry trends, benchmark against peers, and create robust decarbonization strategies. They hope that leading by example will help both peers and clients see the ease and opportunity enabled by investor-grade carbon accounting.
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